Month: January 2020

New Construction Buyers Say They Need Agents Too

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With mortgage rates at extremely low rate and median prices moving closer to what middle-income buyers can afford, newly constructed homes are enjoying their best sales year in more than a decade.

The process of buying new construction has some tough spots for shoppers, especially first-timers. In addition to searching for and financing a home, they’re trying to visualize what that home and the surrounding community will look like, evaluate a builder and select a floor plan and finishes.

Since there are so many moving parts, most new construction buyers (76%) work with agents to find their home, and that 84% of new construction buyers who work with an agent and visit a building/sales center want their agent to help communicate with the builder. 

Half of those buyers (50%) want their agent to handle some communication with the building/sales center, and 34% want their agent or broker to handle all communications with the builder. Only 16% don’t want their agents involved.

Some of the things they might need help with include:

  • Negotiate price
  • Book a tour
  • Explore upgrade options
  • Compare new construction values with existing home values

For more information or any questions regarding sales tips for real estate agents, contact Chang Legal today.

Younger Buyers Shifting Stance on Home Sharing and Renting as an Income Source

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Young home buyers have been quite keen at home sharing and renting as a source of income, which is quite a change from the older generations.

A somewhat shocking share of buyers under age 40 are fine with the idea of renting out their homes, or at least space in them, for future rental income or to help pay the mortgage.

Nearly half (48%) of Gen Z buyers and 40% of millennial buyers who purchased a home in the past year say the opportunity to rent out the entire home for future rental income is very or extremely important to them

A significant share of Gen Z, ages 18-24, and millennials, ages 25-39, also say they want the opportunity to rent part of their home while they live in it: 42% of Gen Z and 35% of millennials say the ability to do that is very or extremely important to them.

For more information or any questions regarding sales tips for real estate agents, contact Chang Legal today.

Easy 1-Day Home Upgrades For Selling Home

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There are many easy home improvement possibilities that may get overlooked when trying to upgrade your home. Here are some of the easiest ways you can give your home a new look in one day without needing a large budget or amount of effort.

Add a coat of paint to what you already have

Now this doesn’t mean that you have to paint your child’s entire bedroom again. Regardless of what you’re painting, adding a new coat of paint can give that item an entirely different life. Here are a few ideas that make a big difference:

 – create an accent wall in a room

 – repaint trim or crown molding

 – give your front door a bright new color

 – spray paint faucet fixtures instead of replacing the whole faucet or sink

Swap out cabinet handles, light switch and outlet covers

Getting new handles and wall plates can make huge yet subtle difference. Swapping out cabinet handles will have the biggest impact on the kitchen. Alternatively, you can switch out any handles or knobs on other dressers or cabinets you have around your home.

Add some plants

Besides making your home look pretty, plants provide more oxygen for your home, reduce stress and anxiety, and help clean the air around you.

Add or replace doormats and rugs

If you have hardwood or tile flooring in your home, you may want to consider adding a rug. In addition to protecting the flooring underneath, this will help decrease the noise in your space and warm up the rest of the room.

For more information or any questions regarding sales tips for real estate agents, contact Chang Legal today.